Playing baccarat and blackjack in Australian land-based casinos may be a thing of the past if predictions are correct. Some of the world’s most experienced analysts are of the opinion that the most lucrative game in the country’s future will not be in the casinos but instead will involve on-line betting.
According to Paul Facey, an analyst with financial powerhouse Merrill Lynch, the major land-based casinos in Australia are hurriedly developing online businesses.  The reason is simple – they are all seeking to capitalize on the on-line betting and gambling craze that is predicted to yield $10 billion U.S. dollars by 2001. In Facey’s words, “the world-wide internet gambling market looks set to boom. Following the expected ban on Internet gambling in the United States, Australian gambling companies appear well positioned to become dominant players in the industry.”
Australia is one of the first countries to promote forms of online gambling, including online casinos and on-line betting. Its largest casino firm, Jupiter’s, has already announced plans to develop an on-line betting business, along with the country’s two largest casinos, Crown Casino and Star City. The firms are currently waiting for the state government to award them licenses.
Australia’s welcoming attitude toward the online gambling contrasts starkly with that of the U.S. where playing at online casinos and participating in on-line betting is considered a felony. In comparison, two Australian states – the Northern Territory and Queensland – have introduced legislation permitting allowing firms to operate online gambling ventures. Similar legislation is expected from the states of Victoria and New South Wales.
The first casino in Australian to develop an on-line betting firm is Lasseters, the country’s first regulated casino situated in Alice Springs.
One of Ord Minett’s analysts, Stuart Jackson, has predicted that the focus of on-line betting operators will be on the more lucrative international markets than those close to home at first. This is likely to be encouraged by the lower tax rates established by the federal government. Jackson also believes that although the scope of the on-line betting market will be huge, losses will still occur due to international marketing expenses.